Information for Suppliers

Doing business with Cedar Woods

Cedar Woods is committed to building strong, mutually beneficial partnerships with stakeholders and vendors. We’ve designed a procurement process that facilitates ethical and sustainable business partnerships, transparency, timely payment and risk mitigation. This includes protecting both our suppliers and our own organisation from the effects of cyber-crime, fraud attempts and human error.

What is our verification process?

Cedar Woods implemented Eftsure as part of our supplier verification process.

For more information on Eftsure, see below. As part of adopting Eftsure, existing suppliers were compared to the Eftsure database and invitations were sent to suppliers who had not yet registered. New suppliers, and suppliers seeking to continue business with Cedar Woods will receive digital invitations and/or forms to verify their bank and business details with Eftsure. This verification process, completed within Eftsure, helps make verification easier and also helps protect your company and Cedar Woods from cyber-crime attempts.

What is Eftsure?

Eftsure is a B2B payment protection service, which we also use to streamline and protect our supplier onboarding process. Whether a threat originates from within our organisation, a supplier or a third-party organisation, Eftsure helps protect our supplier base and reduces the risk of payment error, fraud attempts and cyber-crime. Eftsure’s alert system helps us avoid paying fraudsters instead of the correct recipients, lowering your risk of delayed payment.

The platform is trusted by leading organisations such as Griffith University, Monash Health, Alfred Health, NSW Ports, and 7-Eleven.

We already completed the onboarding process. Do we still need to register through Eftsure?

If you’re an existing partner to Cedar Woods, you might still need to register with Eftsure. This is to protect both of our organisations from risks like external cyber-crime and employee error during the payment process. Once your details are verified by Eftsure, you will not need to be re-verified with any of your other customers who use Eftsure’s solution, although other companies may choose to request additional information or documentation.

Is it safe to share my bank account details with Eftsure?

Yes. Eftsure follows best practices for securing data and its systems. It has been vetted by numerous industry leaders and is regularly audited and penetration-tested by external security specialists. Read more.

How do I securely share and verify my account details?

The communications you receive will include a link to register with Eftsure. The process asks you to submit details like your ABN, trading name and company address, as well as asking you to confirm payment information. You’ll have two options for confirming your bank account details:

Online Verification Tool (Bank link): This allows you to select your relevant bank account details from your bank without you needing to enter in the bank account details manually. Suppliers are able to securely and automatically verify their payment details through the Eftsure Bank Link (Yodlee) option where the underlying financial system is leveraged to securely verify the Supplier's nominated Account Name, Account Number and BSB, against the Australian Business Register and Australian Business Numbers. The Supplier credentials are not seen or stored by anyone at Eftsure, Yodlee or your customer’s organisation. (If the account name does not match your registered business name, you may still receive a phone call for security purposes).
Phone call: One of our fraud verification analysts will contact you and undertake an initial screening validation process related to information on the submitted online form. The fraud verification analysts will then complete a two-way, interactive account number verification process in order to verify the account number, along with the BSB, account name and ABN.